New Delhi, April 17 -- India's defence sector is set to grow steadily, supported by strong efforts towards indigenisation, a solid order pipeline, and rising growth opportunities, according to a recent report by Nirmal Bang.

The report maintains a positive outlook on the sector, citing the government's focused approach to boost domestic defence production and reduce dependency on imports.

It said, "We maintain a positive outlook on the defence sector, highlighting the ongoing efforts towards indigenisation, a strong order pipeline, and significant growth potential."

The report highlighted that India's annual defence production has already crossed Rs 1.27 trillion and is likely to touch Rs 1.75 trillion by the end of FY25.

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